I'm always interested in bicycle designs and this one seems like a rather interesting solution to a bumpy problem. I don't think this would work in a mountain bike set up as it seems like the rough surface would induce more of a pogo-ing effect.
But I could definitely see this bike on the road in skinny bike form as pictured here or, as one commenter suggests, as a cruiser. It could also be set up as a commuter/town bike too and those rear hoops could easily double as pannier mounts to go touring.
I love clever and this is a pretty clever solution. Even if it will take a while to get used to the hoop-y style frame.
